Calpine Raises USD560 Million in Private Placement of 5.25% Notes Due 2026

Published: Dec 04 2017
Deal Summary

Calpine Corporation, a power generation company, has completed the private placement of 5.25% senior secured notes due 2026, for gross proceeds of USD560 Million.

The company intends to use the proceeds from the offering, together with cash on hand, to (i) repay approximately USD1.6 billion of borrowings outstanding under Calpine Construction Finance Company, L.P.’s, first lien term loan facility with tranches maturing in 2020 and 2022, terminating the facility in connection therewith and (ii) pay fees and expenses in connection with the offering of the notes, the new first lien term loan facility and such repayments and terminations.

Deal History:

Pricing: On December 4, 2017, Calpine upsized and priced the private placement of 5.25% senior secured notes due 2026, for gross proceeds of USD560 million.

Announced: On December 4, 2017, Calpine announced to issue 5.25% senior secured notes due 2026 in a private placement for USD550 million.

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